News Release

Fifth-Grade Student "Bugs" The SF Fed—And Wins $200 Savings Bond

SAN FRANCISCO, May 20, 1999-Contrary to the scare stories about Y2K, the so-called "Millennium Bug" has already brought something positive and rewarding to eleven-year-old Sharon Kim, a fifth-grade student at San Francisco's Lawton School. This morning, Kim received a $200 savings bond from Robert T. Parry, President of the Federal Reserve Bank of San Francisco (FRBSF), for her winning drawing depicting a millennium bug-something everybody talks about, but nobody sees.

The FRBSF sponsored the contest for Bay Area fifth graders to help them learn what the Y2K computer problem is, how it may affect their lives, and what the "Fed" and others are doing to prepare the nation's banking system for the century date change.

"Our outreach in economic education has many dimensions: partnering with schools, holding economic seminars for teachers, and providing grade-appropriate curriculum materials on various economic topics," explained Brian Duckworth, manager of public relations and education services for the FRBSF. "This year, as we launched a public information campaign to address Y2K issues, it seemed only natural to provide a lesson plan on Y2K to help educate kids and their parents on what we're doing to prepare for a successful banking industry rollover to the year 2000. To encourage creativity and to bring humor to an otherwise serious topic, we decided to offer a prize for the best drawing of the millennium bug."

The drawings submitted were reviewed by a panel of FRBSF staffers, who chose the winner based on artistry, originality, and creativity. Using the occasion as a field trip, Lawton School fifth-grade teacher Don Wong brought along his 33 students, who learned the winner's name during an informal award ceremony at the FRBSF, where they later participated in an educational program and enjoyed a pizza lunch.

The Federal Reserve Bank of San Francisco has produced a pamphlet to let the public know about the banking industry's preparations for Y2K. It is available free of charge by calling (415) 974-2163 and leaving your name and mailing address.